3 ms·
Always rounding up seems unlikely, in particular for price sensitive goods.
by thoughtstheseus 7y ago
Always rounding up seems unlikely, in particular for price sensitive goods.
- throwaway5752 7y agoRetail net margins are often in single digits overall and net negative on competitive staples. There may not be room in cash flow to round down. edit: okay, downvoters, what did i get wrong factually? I'm just basing this statement on dozens of general, food, and discount retail 10-K filings and analysis over longer than a decade of following them.
- AnotherGoodName 7y agoThe USA currently rounds to nearest cent and it works well. I could buy 1.49 cents worth of something and have it rounded to 1 cent. If the rounding becomes 5cents rather than 1cent it doesn't change a lot. I'm reminded of a comedy skit from childhood based on Australia removing 1 and 2 cent pieces. A guy buys 2 cents of petrol at a time repeatedly pushing his car from pump to pump at a service station. It went on for a while and eventually the owner at the counter, who was down a whole 10 cents at this point, just shook his head and laughed while exclaiming "Dickhead!".